Sabina Gold & Silver Reports Goose Drilling Started at Back River Gold Project - Seite 2

Figure 1. Inclined section, showing Umwelt open pit and underground mineralized areas, and general area of planned 2022 drilling.
https://www.globenewswire.com/NewsRoom/AttachmentNg/917d71e1-b88f-434e ...

Figure 2. Plan map of the Goose Project, with location of planned open pits and areas of 2022 drilling targets.
https://www.globenewswire.com/NewsRoom/AttachmentNg/c1b675b3-08e7-427e ...

Qualified Persons

Ms. Nicole Lasanen, P.Geo. and Technical Services Manager for Sabina Gold & Silver Corp. is a Qualified Person under the terms of NI 43-101 and has reviewed the technical content of this press release for the Back River Project and has approved its dissemination.

Sabina Gold & Silver Corp.

Sabina Gold & Silver Corp. is an emerging gold mining that 100% owns the district scale, advanced, high grade Back River Gold District in Nunavut, Canada.

Sabina recently filed an Updated Feasibility Study (the “UFS”) on its first mine on the district, the Goose Mine, which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV_5% of C$1.1B. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021.

The Project received its final major authorization on June 25, 2020 and is now in receipt of all major permits and authorizations for construction and operations.

The Company is also very committed to its Inuit stakeholders, with Inuit employment and opportunities a focus. The Company has signed a 20-year renewable land use agreement with the Kitikmeot Inuit Association and has committed to various sustainability initiatives under the agreement.

In February 2022, the Company announced it had completed a comprehensive project financing package for US$520 million comprised of:

• A US$225 million senior secured debt facility with Orion Mine Finance;
• A US$75 million gold prepay facility with Orion Mine Finance;
• A US$125 million gold stream arrangement with Wheaton Precious Metals; and
• A US$95 million private placement of Sabina Common shares subscribed to by both Orion and Wheaton Precious Metals.

In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.